Wolfe Research Begins Coverage on Pfizer (NYSE:PFE)

Wolfe Research initiated coverage on shares of Pfizer (NYSE:PFE) in a report published on Friday, Marketbeat.com reports. The firm issued an underperform rating and a $25.00 price target on the biopharmaceutical company’s stock.

PFE has been the topic of a number of other reports. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Stock Down 4.7 %

Shares of NYSE:PFE opened at $24.80 on Friday. The firm has a market cap of $140.54 billion, a P/E ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67. Pfizer has a 12-month low of $24.48 and a 12-month high of $31.54. The business has a fifty day simple moving average of $28.64 and a 200 day simple moving average of $28.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the company earned ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Analysts predict that Pfizer will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its stake in Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after acquiring an additional 227,349 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares in the last quarter. KBC Group NV boosted its holdings in Pfizer by 26.0% during the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after purchasing an additional 639,985 shares during the last quarter. Swiss National Bank grew its position in Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Pfizer by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after buying an additional 544,418 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.